Pub. 22 2023 Issue 5

We Will Find For Your Dealership! NJ CAR SERVICES, INC. works for you! NJ CAR Services has provided fair, competitive and consistent pricing on business forms and advertising items to members of the New Jersey Coalition of Automotive Retailer since 1975. NJ CAR Services has saved members tens of thousands through increased competition and less expensive products. One call does it all. 609.883.5056 ext. 402 njcarservices.com HOW TO MAKE ICHRAs WORK FOR YOUR ORGANIZATION OFFERING ICHRAs This method requires a bit more upfront effort to implement. Fortunately, proper communication, education, and one-onone meetings can ensure success. In order to provide your employees with the right guidance to personalize their ICHRA plan, use a dedicated employee benefits advocacy team or specialized ICHRA provider. In a one-on-one meeting with an employee, an advocate can assess their needs, research plan options on the employee’s behalf, and present them with a few manageable options where they can choose their own carrier and plan design. Crucially, according to federal regulations, employers can’t offer the same type of employees a choice between a group health plan and an ICHRA. Make sure your plan follows federal rules and offers affordable coverage. Request handson support from your broker to help you offer ICHRAs to your employees. In the right situation, ICHRAs can provide an ideal solution to common benefits problems at a lower cost to employers and employees than traditional coverage options. This allows transparency and freedom of choice for employees’ benefits selections. Stephen Horvat is Vice President and Senior Benefit Consultant at Corporate Synergies. He can be reached at (610) 994-7033 or via email at stephen.horvat@corpsyn.com. 25 new jersey auto retailer

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